It appears Hollywood is attempting to re-write history . . . again: This go around it is with a movie called Margin Call, which purports to capture events leading up to the financial crisis of 2008. A quick scan at IMdB reveals that no actors were cast to play Barney Frank or Chris Dodd, so right away you know that the majority of the story will not be told. It also seems pretty safe to assume that there will be no mention of the Community Reinvestment Act or all the other government actions that created the crises by forcing money to be given to predatory borrowers that lived high off our dime and are now expecting us to further bail them out. But hey, why spoil a politically convenient narrative with something complex and messy like the truth?
View Comments (7)
What it said: "Inspired By Real Events" What it means is: The Finacial Crisis is the insiration to this piece of fiction
Is it bad when a trailer nearly puts me to sleep?
Not as bad as when it serves as a laxative! Suddenly have to dump when I watch it. Hollywood help for the constipated thinker.
According to the trailer the movie was "inspired by real events', which is Hollywood-speak for "We made the whole thing up to blame conservatives".
Most sub-prime loans did not come out of the Community Reinvestment Act.. Brokers and lenders were all too happy to dig into that trough, bundle them up, and sell them to whomever fell for the good-as-gold proclamations of ratings agencies
Since you don't work in the mortgage business, I'll let that go as just regurgitating what you read on HuffPo.
My wife worked in the mortgage business for 25 years until the crash.
She used to come home and tell me about people that came to the closing table without $500 to cover closing costs, but they had to give them the loan because of the government programs they were borrowing under. These people wouldn't qualify for a loan to buy an outhouse if it weren't for the CRA.
When they were told their sub-prime interest only loan was only a temporary rate, and that the loan term was only 5 years, and they would have to get a regular mortgage, they said they didn't care, they'd wait for the government to help them out again when the time came.
What....couldn't get Matt Damon, Leonardo or some other capitalist hating piece of crap to star in this? Let me guess? Opens in late November, flops so bad its available for purchase as stocking stuffer by X-mas!!